Fraud, Corruption and Embezzlement

Our professionals have extensive experience in fraud, corruption and embezzlement matters, assisting a variety of stakeholders in identifying and understanding the financial and accounting aspects of various fraud schemes. Our professionals have led matters including the following:

Ponzi and Investment Schemes

Hedge Fund – supported a feeder/hedge fund investor group and its top executive regarding investments it had with Bernard L. Madoff Investment Securities LLC, including forensic accounting, damages, transactional and reporting analyses and on-site support during various arbitration hearings.

Financial Services Company – supported a matter involving an international financial institution, analyzing allegations of accounting and financial reporting fraud, and allegations that the institution was a Ponzi scheme.

Oil & Gas Company – supported a matter regarding allegations by a bankruptcy trustee that a joint-venture participant was aware that its joint-venture partner was perpetrating a Ponzi scheme, including funds flow analyses through numerous entities, rebuttal of opposing expert reports, and supporting the preparation of an expert report.

Hedge Fund – supported a matter involving the investigation of a hedge fund group, including analysis of historical subscriptions, redemptions, and other transactions, through a variety of entities, to determine whether Ponzi-type payments or other inappropriate transactions existed.

Fraud and Corruption Matters

Vladislav Kim and Others v. The Republic of Uzbekistan; Expropriation; ICSID Case No. ARB/13/6. Testified in Washington DC in July 2015. Filed expert reports relating to financial issues and damages in October 2018 and September 2017. Filed expert reports on financial issues in March 2015 and August 2014 relating to a jurisdictional filing. Dispute involving two cement plants in Uzbekistan. (Engaged by Respondent; parties from Kazakhstan & Uzbekistan)

Oxus Gold plc v. Republic of Uzbekistan; Expropriation; UNCITRAL Arbitration. Testified in Paris in May 2014. Filed expert reports on damages in July 2014, February 2014 and February 2013. Dispute involving the valuation of investments in gold and other mineral mining interests in Uzbekistan. The award was for the exact amount presented by Hart which was less than one percent of the $1.3 billion claim. (Engaged by Respondent; parties from England & Uzbekistan)

S&T Oil Equipment & Machinery LTD. v. The Government of Romania; Expropriation; ICSID Case No. ARB/07/13. Filed expert reports on damages in July 2009 and December 2008. Dispute involving the privatization of an ammonia plant in Romania. Matter discontinued due to lack of payment by claimant. (Engaged by Respondent; parties from US & Romania)